Feasibility Study Reveals the Potential Impact of Legalizing Online Casinos in Wyoming

The Spectrum Gaming Group has just released its latest report looking at the feasibility of legalizing online casinos in Wyoming. The findings are interesting and showcase the potential impact an online casino bill could have on the state.

When will online casinos be legal in Wyoming?

There are no guarantees that Wyoming online casino sites will become legal yet. There have been previous attempts to pass a bill to legalize online gambling in the state, but they have ultimately failed. When the most recent bill reached the House of Representatives 25 members voted for it, while 36 voted against it.

However, considering only a majority is needed for the bill to pass, the previous bill was pretty close. Additionally, this was before the most recent findings of the feasibility report, which could potentially sway voters when the bill is re-introduced.

Research highlights positive benefits of Wyoming online casinos

The study revealed a wide variety of potential benefits from the legalization of online casinos, some of which included:

• Wyoming online casinos could bring in between $93 and $138 million in the first year.
• By the fifth year revenues are forecasted to reach up to $199 million.
• Between $20 million and $40 million could be generated in state tax revenues.
• The introduction of online casinos would have no negative impacts on physical casinos or other iGaming segments

How the findings could put pressure on re-introducing the Wyoming online casino bill

One of the most significant findings of the study was the additional revenue that would be generated in tax for the state. Between $20 and $30 million in the first year, up to $40 million in the second year. The state has a relatively small population of 500,000 residents so this money could go a long way to improve government services and infrastructure in Wyoming. There would also be additional revenue for the sale of gaming licenses, which typically cost $100,000 for a permit that is renewable every five years

Additionally, it has dispelled any concerns about the introduction of online casinos hurting other gambling-related industries in the state. Wyoming has legalized online sportsbooks, charitable gaming, and skill-based amusement games at certain locations. There are also 3 tribal casinos and 3 racetracks in the state. All of their revenues are expected to be unaffected if Wyoming online casinos are legalized.

With all of these now at the forefront of the discussion, the pressure is mounting for legislators to revisit the bill. Representative Robert Davis has recently announced his plans to revisit the Wyoming online casino bill in 2025. This will give representatives of the House another chance to vote, based on the latest findings from the feasibility report.

Conclusion: Will Wyoming legalize online casinos?

There are no guarantees that Wyoming will ever legalize online casino sites. But, the pressure is becoming ever present for state legislators, with the benefits listed in the recent feasibility study providing a lot of food for thought. Even the recent success of online casinos being legalized in states like Connecticut provides additional talking points for those pushing the Wyoming bill. Everything looks to be going on an upward trajectory, but until the bill is re-introduced in 2025 you will have to sit tight.